Introduction
The demographic marketing profile indicates that the beverage industry is one of the fragmented and commoditized space with several key players competing on price, brand awareness and consumer loyalty. In order to maintain the virtues, companies manufacturing and marketing the beverages and its products have always worked around the clock to revolutionize their innovative trends. These trends will allow them to capitalize the market and its consumer. These market trends have made most of these companies to purchase the K-cups and Keuring machines that come in diverse forms. The machines especially the newest Keuring 2.0 system is mainly preferred due to its functional and operational capacity (Green Mountain Coffee Roasters p. 12).
At glance, the newest Keurig 2.0 model looks much pretty. This model is the first Keurig machine to brew both a single cup and four-cup carafe. This innovation can deliver exceptionally everything a consumer may love and need. The simple machine has the power to form a game of performance and function, all at the touch of a button. The machine is quite smart and simple. It is so different from any other average coffee maker. The brewer has some special elements such as an auto brew option, programmable clock and 2.4 color touch display. The model has strength control section that can brew separate beverages. The Keurig 2.0 brewing system has Keurig Carafe, K-cup, a 2.0 water filter and K-Carafe cups that will enable you brew all brands of beverages you know and love. At the base rests a 10-cup thermal decanter that keeps the coffee warm at least for few hours after it has been brewed (Rich et al p.12)
The Strengths and Opportunities of the System
The Technology of the Keurig 2.0 Machine
There are several technological advanctages why most coffee brewing and marketing companies are striving to use the Keurig 2.0 brewing system. First, the system is scheduled to have an automated control using a smartphone. In order to perform the process, all an individual needs to do is to tap the coffeemaker in order to understand the varied commands. Once the machine is filled with water to the required levels, the operator can be able to tap coffee cup icon to allow the machine to start the brewing process. It is often easy to set up the brewing schedule, and the machine will automatically start the brewing process and take the exact amount of time that is set by the operator. Using the newest Keurig 2.0 brewing system it is easy to set a schedule in advance and change the time limit for different number of days, something that may not work out with other forms of coffee machines. Once the process of brewing the coffee is completed, the system often sends a push notification to stop the process (Green Mountain Coffee Roasters p. 15).
A Market Niche
Research studies indicate that the current global demographic trends are heavy consumers of beverages. They often prefer to prepare coffee at home as compared to the restaurants. The average market price for the prepared K-cup at home is approximated to be $0.66 as compared to regular coffee prepared at a local hotel which is approximately $1.77. This financial difference has pushed many families to adopt the use of the new model Kreuring 2.0. The real reason for many coffee marketing and manufacturing companies have adopted the use of the innovation is its ability to provide efficient performance to the diverse users. The Keuring 2.0 can perform the task of brewing coffee and other forms of beverages in less than a minute at all locations (Rich et al p. 34). The coffee prepared is often of high quality and great tasting. This advantage has enabled the Keuring 2.0 to be the leading brewing system at current home markets. A close comparison of the number of consumers who have used the device in the last three consecutive years indicates that there has been a steady increase. This trend has made it to be branded as the leading innovation in the in the coffee brewing industry. The companies selling the product system have captured the market by selling a product through diverse outlets and using promotion strategies thus providing the competitors market niche (Colon p. 6).
The Online Markets for Kreuring 2.0 System
The Kreuring 2.0 has taken a new twist in order to reach a global market. Basing itself in the product brand loyalty and marketing niche, the product has now emerged to comprehensively advertise its function. The marketing company of the product is currently targeting online marketing services. Through the use of new marketing technologies, the companies are guaranteed a long term success. As they advertise, they can provide a clear competitive edge on the use of the device. They are in a position to convince their consumers on the various advantages of adopting the device. Today, the device has been constantly been advertised through the optimization search engines, display advertisements and social media markets. These aesthetic sites are great speakers to the audience and promote the desirable aspects of the system to every global market (Colon p. 9).
The Threats and Weaknesses of Keurig 2.0 system
Competition from the Substitute Products and Change in Tastes and Preferences
There are inherent threats to the Keurig 2.0 model cup that apparently may jeopardize its market share, financial growth and brand loyalty. The constant availability of the close substitute of the product may hurl the marketer’s ability to increase the prices thus risk greater lose in their marketing operations. A clear forecast indicates that the technology that has been used may become outdated in the few coming years. These threats will dramatically increase the single system in the market thus threatening the current model dominance in the market. As a result of outdated forms, the manufacturing firms risks losing the licensing agreement and ultimately the entire business to the competitors. Just like any other consumer product, a certain group of people may change their daily preferences to different forms of beverages that may not require the system in order to prepare. This trend may result into a decline on the market for both the beverage and the system at large (Rich et al p. 56).
One weakness of the new model the Keurig 2.0 system is the constant need of service. This operation requires the consumer to have the relevant technological knowledge on how the system operates. Financial analysis indicates that most of the consumers who own the machine spend an additional 3% on their monthly expenses to service the machine. This extra package threatens their financial capacity and use of the product. As a result, most consumers often avoid the use of the product or apply its use on special occasions. This trend threatens the market and the full use of the Keurig 2.0 system (Green Mountain Coffee Roasters p. 43).
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Works Cited
Colon, Alex. "Mr. Coffee Smart Coffeemaker WeMo Enabled." PCmag.com (2014) Pp. 1-13
Green Mountain Coffee Roasters, Inc.: Consumer Packaged Goods - Company Profile, SWOT & Financial Report. Basingstoke: Progressive Digital Media, 2014. Pp. 1-45
Rich, Gillian. "Keurig Earnings seen Cooling, but New Brewers Await." Investor's Business Daily Aug 01 2014 p. 3-67
